Company News for September 10, 2010 - Corporate Summary

• National Semiconductor NSM posted fiscal first quarter results of 36 cents a share, one cent below estimates, on revenues of $412 million, below consensus projections of $415 million. The company CEO noted, "In the near term, slower growth in our end markets and distribution channel, along with some likely inventory reduction, will mute the seasonal growth that we would normally see in our business during this time of the year," cutting the near-term revenue outlook to $415 million from $390 million

• Texas Instruments TXN narrowed guidelines for third quarter sales and earnings

• Nokia NOK replaced its CEO with Microsoft's MSFT Stephen Elop

• Piper Jaffray PJC upgraded Moody's MCO to "overweight" from "neutral," taking the price target from $29 to $31

• Deutsche Bank DB initiated coverage of Medtronics MDT at a "buy" rating, and a price target of $43

• Apple AAPL bowed to antitrust pressures with a decision to loosen guidelines for app developers, considered likely to benefit software developer Adobe Systems ADBE

• JBW upgraded Comerica CMA from "market perform" to "outperform," taking the price target from $43 to $44

• UBS UBS downgraded Intuit INTU to "neutral" from "buy"

• Jefferies JEF upgraded Computer Sciences CSC to "buy" from "hold," taking the price target from $47 to $53

• Wells Fargo WFC downgraded C.R. Bard BCR to "market perform" from "outperform," with the target price range of $75-$85

• Citigroup C upgraded Royal Bank of Scotland RBS to "buy" from "hold"

• Citi downgraded Barclays BCS from "buy" to "hold"

 
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